AuriGen, an Irish medical device startup is aiming to increase the momentum of their development with a new fundraising round among the US and Irish venture capital companies. The company is aiming to raise a huge amount for which the core team of AuriGen is planning to travel the US next week. The new funding will help patients with irregular heartbeat patient to benefit from the company's highly advanced technology.

AuriGen is a spinout startup of the National University of Ireland Galway and focusses on the treatment of persistent atrial fibrillation patients, a common form of irregular heartbeat. The company is in the process of developing a pioneering cardiac implant to treat heart failure and strokes related to the condition.

The device will be implanted into the patient’s arm from where it will go to the heart through a vein to stop the irregular heartbeat. An estimated 10 million people suffer from the condition in Europe.

Chief executive Dr. John Thompson, stated that the company also plans on targeting angel investors and a number of high-net-worth individuals in the new funding round. According to another report, AuriGen won a €2.5m funding boost from the EU-backed Horizon 2020 SME funding scheme amidst a lot of competition just last week.